New York man who conned investors gets prison; purchases included North Carolina farm

Associated Press

A New York man has been sentenced to decades behind bars for a land investment fraud that cheated clients out of their retirement savings.

Suffolk County District Attorney Thomas Spota (SPOH'-tuh) says Paul White of Huntington, New York got a sentence of 21 to 63 years Thursday. The court also ordered White to pay seven victims a total of $2.9 million.

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The DA says White conned investors by promising lucrative federal tax benefits in commercial real estate transactions.

White claimed to be a financial adviser operating under the name of Professional Investment Advisor Inc. Instead of investing the victims' money, the DA says White "financed a comfortable lifestyle" for himself.

His purchases included a farm in Cleveland County, North Carolina, that he turned into a game reserve.